Bulgarian Capital Plans Industry Park Near Dead Steel Giant - Report

Bulgarian capital Sofia is planning to allot some 38 acres nearby defunct steel plant Kremikovtzi for the creation of a new industrial park, according to a publication by wide-circulation 24 Chasa daily Sunday.

The land is owned by Sofia Municipality and is in the very vicinity of Kremikovtzi, which was up for liquidation after being declared bankrupt, and was bought only at the fourth auction in April by sole bidder Eltrade for EUR 162 M.

According to 24 Chasa, the town of Sofia is ready to implement all infrastructure needed, such as roads, water and sewage, and electricity, in a shortened time frame, i.e. within a half-year.

The publication also mentions that a German company has already expressed interest in giving the municipality the know-how to carry out the project.

Sofia Municipality could apply for financing under the Competitiveness Operational Programme. The land could be partitioned into small modules to stimulate the participation of smaller companies.

24 Chasa also mentions a parallel but smaller project planned for the fall near the Iskar Train Station in the north-east of the city.

The land in the latter case belongs to the Bulgarian Academy of Sciences, so it is not clear how Sofia Municipality might be executing the project.

Ever-since the closing-down of Kremikovtzi plant, there was speculation that the future of the site might be connected with the construction of a new high-tech industrial park.